How Fortress Investment Group has grown to be acquired at $3 Billion
Fortress Investment Group(FIG) is a leading investment management company. You cannot traverse the investment world and avoid it. It a company founded in the late 90s with focus into the private equity, liquid market, credit funds and traditional asset management. With an employee count of about 1000, Fortress Investment Group serves a client base of over 1700. Their clients range from institutions and private individual investors across the globe.To stand out in investment management, Fortress Investment Group has partners. The partners are Peter Briger, Wesley Edens, and Randal Nardone. They form senior management and qualify their positions with over 20 years in the finance industry. For instance, Mr. Biger the current Co-executive served 15 years at Goldman Sachs and rose through the ranks to partner.
Mr. Edens the other co-executive served as partner and director at BlackRock Financial Management. The other partner Mr. Nardone, a principal served as director of UBS. This experience from the past managerial positions then assures clients to trust and hire the services of Fortress Investment.According to Fortress Investment Group, the firm is proud to be associated with the first milestone of launching the Fortress Investment Fund I in 1999 up to the current milestone of $44 billion assets under management. All these achievements that span 20 years are attributed to core competencies. Fortress Investment group is in a favorable position as they are asset-based, know their industries, know the process of mergers, know the capital markets and have refined operations management.
The ideal of Fortress Investment Group is striving to generate risk-adjusted returns for their clients over the long-term – They call it ‘Investment performance our cornerstone.’ Peter Biger, the head of credit shares that the services that they offer are made skeptical. This attitude is majorly directed to the credit market. Wes Edens, the head of private equity also shares that they put an effort in exceptional companies including established ones in sectors that are rewarding in investment.Being successful just like Fortress you attract interest from so many parties. Softbank, a Tokyo company, was excited by the successes of Fortress. Softbank then acquired Fortress Investment Group for $3.3 billion. Softbank is a conglomerate. The subsidiaries wholly own the shares of Fortress. Businesswire reported that all Fortress Class A shares were converted to value at about $8. Fortress will perform under Softbank independently in New York, and the partners will still be in charge to guarantee clients of continuity – in model, culture, and branding.